US optical communications, glass and ceramic technology company Corning has said that it is closing its Israel development center within the next month. Corning is the third US company to close its Israel development center over the past few weeks after Dropbox and EA. Corning did not say how many employees would be losing their jobs with the closure of the Airport City wireless optical communications development center but according to LinkedIn, Corning Israel has over 70 employees in the materials and communications sector.
Corning Israel is based on the 2011 acquisition of Israeli startup MobileAccess, which developed wireless communications infrastructures for buildings and campuses, which was founded in 1998 and underwent various strategic changes. MobileAccess was originally called Foxcom and was a spinoff from OnePath, which raised $60 million and nearly shut down in 2002.But Foxcom then changed direction, focused on the US market and outsourced its production activities.
Corning confirmed to "Globes" that it is closing its Israel operations but declined to elaborate on its reasons. The company said "In order to adjust the company's expenditure and revenue structure we have implemented several changes, including closing the Israel center.
"We made many efforts to examine other alternatives, and when this was not successful, we did as much as possible to act according to the company's values and to assist employees with compensation and support packages, and help to find new jobs. Corning will continue to sell its products as usual in Israel, and the products developed in Israel will continue to exist in the market in a different form."
Published by Globes, Israel business news - en.globes.co.il - on May 3, 2023.
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